Housekeeping for regulators of volatile housing markets
World housing markets have gone through a volatile period of boom and bust, triggering the financial crisis and subsequent economic downturn. While it might be tempting for governments to contemplate on housing bubbles by means of monetary policy or direct controls over housing prices, such moves ar...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2009
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| Online Access: | https://ink.library.smu.edu.sg/ksmu/346 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1345&context=ksmu |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | World housing markets have gone through a volatile period of boom and bust, triggering the financial crisis and subsequent economic downturn. While it might be tempting for governments to contemplate on housing bubbles by means of monetary policy or direct controls over housing prices, such moves are far more complicated than it seems. Housing prices are influenced by various factors and governments have a limited handle on them at best. Raising interest affects other sectors of the economy - not just housing. So what can governments do? What should be the ultimate goal of housing policy? |
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